Pre European Open, Daily Technical Analysis  Wednesday, December 6, 2017

Pre European Open, Daily Technical Analysis Wednesday, December 6, 2017

6 December 2017, 08:56
Dragan Drenjanin
0
16

EUR/USD Intraday: under pressure.



Pivot: 1.1850
Most Likely Scenario: short positions below 1.1850 with targets at 1.1800 & 1.1775 in extension.
Alternative scenario: above 1.1850 look for further upside with 1.1875 & 1.1900 as targets.
Comment: as long as the resistance at 1.1850 is not surpassed, the risk of the break below 1.1800 remains high. 

GBP/USD Intraday: consolidation.



Pivot: 1.3455
Most Likely Scenario: short positions below 1.3455 with targets at 1.3400 & 1.3370 in extension.
Alternative scenario: above 1.3455 look for further upside with 1.3480 & 1.3515 as targets.
Comment: as long as the resistance at 1.3455 is not surpassed, the risk of the break below 1.3400 remains high. 

USD/JPY Intraday: under pressure.



Pivot: 112.60
Most Likely Scenario: short positions below 112.60 with targets at 111.95 & 111.70 in extension.
Alternative scenario: above 112.60 look for further upside with 112.85 & 113.10 as targets.
Comment: the RSI shows downside momentum.

AUD/USD Intraday: under pressure.



Pivot: 0.7620
Most Likely Scenario: short positions below 0.7620 with targets at 0.7570 & 0.7550 in extension.
Alternative scenario: above 0.7620 look for further upside with 0.7655 & 0.7680 as targets.
Comment: the RSI shows downside momentum.

Gold spot Intraday: under pressure.



Pivot: 1274.00
Most Likely Scenario: short positions below 1274.00 with targets at 1260.00 & 1254.00 in extension.
Alternative scenario: above 1274.00 look for further upside with 1278.00 & 1283.00 as targets.
Comment: the RSI lacks upward momentum.

Crude Oil (WTI) (F8) Intraday: limited upside.



Pivot: 57.05
Most Likely Scenario: long positions above 57.05 with targets at 58.00 & 58.40 in extension.
Alternative scenario: below 57.05 look for further downside with 56.75 & 56.40 as targets.
Comment: the RSI is mixed with a bullish bias. A support base at 57.05 has formed, which should limit any downside room, and call for a new rebound.

Share it with friends: